Imports of goods fell 31.2% to 9.1 MM$ last year

Importações de Bens caíram 31,2% para 9,1 MM$ no ano passado

In 2023, Mozambique saw a decrease of 31.2% in imports of goods, totaling 9.1 billion dollars, equivalent to 44.4% of GDP, mainly reflecting the 76% reduction in spending on invoices for Major Project (GP) goods.

The data is contained in the annual balance of payments bulletin recently released by the Bank of Mozambique (BdM), to which the MZNews had access to, noting that the import of goods recorded in the same period of 2022 was essentially influenced by the arrival, in the first quarter, of Coral Sul FLNG's floating platform in area 4 of the Rovuma basin.

"Imports of goods, excluding the value of Coral Sul FLNG's floating platform, increased by 51.2 million dollars compared to 2022, mainly influenced by the increase in imports of capital goods, especially imports of machinery," says the BoM bulletin.

According to the document, in terms of categories of goods, including GPs, Capital Goods stood out with 19.1% over total imports, with an annual flow of 1.7 billion, equivalent to 8.5% of GDP.

In addition, Intermediate Goods contributed 33.4% to total imports, as this category cost the country almost 3.1 billion dollars, equivalent to 14.9% of GDP. Lastly, Consumer Goods cost the country 2.2 billion dollars, corresponding to 11% of GDP.

Overall, South Africa led the way as the main country of origin of Mozambican imports, accounting for 23.2 % of total imports, with a total value of 2.1 billion dollars, followed by China, with 15.4% and the United Arab Emirates, with 10.3%.

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